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Atlantic City Revenues Down 13 percent in January 2013
Tuesday February 12,2013 : NOT A GOOD JANUARY FOR ATLANTIC CITY
13.2 percent slide in revenues at Atlantic City casinos in January
Atlantic City's casinos began the new year the way they've spent most of the past six years: taking in less money from gamblers, the Associated Press news agency reports, quoting official figures from the state gambling authority.
Compared with the same period in 2012, revenue at the city's 12 casinos fell by 13.2 percent this January, making for an inauspicious start to what could be a seventh straight year of falling casino revenues.
Atlantic City's status as the nation's second biggest gambling mecca has already been lost to neighbouring Pennsylvania; Atlantic City's casino revenue has fallen from a high of $5.2 billion in 2006 to just over $3 billion last year.
The 2013 numbers show that in January, Atlantic City's casinos won $205.6 million from gamblers. Table games revenue fell by $5.1 million, to $67.1 million. Slot machine revenue fell by $26.2 million, to $138.5 million.
The slots numbers were affected by an $8.1 million decrease in promotional gambling credits that were wagered, which are a component of slot machine revenue totals, AP notes.
Pokerstars parent Rational Group which is in the midst of an acquisition bid for Atlantic City's land-based Atlantic Club casino, will be pleased to hear that it was the only casino to show a revenue increase - up nearly 15 percent to $9 million.
Biggest loser in January was the Trump Plaza Hotel and Casino, which posted an alarming 40.8 percent plunge, to just $4.8 million.
Atlantic City is battling growing competition from adjoining states like Pennsylvania, Delaware, New York and Maryland.
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Gambling News :
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
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